605.0802 Derivative action.—A member may maintain a derivative action to enforce a right of a limited liability company if:
(1) The member first makes a demand on the other members in a member-managed limited liability company or the managers of a manager-managed limited liability company requesting that the managers or other members cause the company to take suitable action to enforce the right, and the managers or other members do not take the action within a reasonable time, not to exceed 90 days; or
(2) A demand under subsection (1) would be futile, or irreparable injury would result to the company by waiting for the other members or the managers to take action to enforce the right in accordance with subsection (1).
History.—s. 2, ch. 2013-180.
Section: Previous 605.0712 605.0713 605.0714 605.0715 605.0716 605.0717 605.0801 605.0802 605.0803 605.0804 605.0805 605.0806 605.0901 605.0902 605.0903 NextLast modified: September 23, 2016